Property Rates in South Mumbai - Mumbai Real Estate


Property rates in South Mumbai are shooting up. New migrants just cannot dream of owning a flat in South Mumbai.

Property rates in South Mumbai are shooting up. New migrants just cannot dream of owning a flat in South Mumbai.

While new migrants just cannot dream of owning a flat in South Mumbai, the existing and old house owners are seem to be the kings of the city.

Days are gone when people use to wait for retirement to buy a house or flat. Now a days, the younger generation are smart enough to own immovable property like flats. Whether, they are in need at present or not the moment they secure a stable job, they apply for housing loan and buy a flat. This way, they get tax reliefs and need to pay a low E.M.I. since the term of loan is for longer period.

Location Rates per Sq.ft.(in Rs.)
--------------- ------------------------
Altamount Road 50000 – 82000
Bombay Central 16000 – 38000
Churchgate 22000 – 50000
Colaba 27000 – 54000
Cuffe Parade 34000 – 82000
Kemps Corner 40000 – 63000
Lower Parel 22000 – 34000
Mahalaxmi 20000 – 42000
Malabar Hill 60000 - 70000
Marine Drive 20000 – 45000
Nariman Point 85000 - 95000
Nepeansea Road 55000 – 84000
Pedder Road 40000 – 65000
Prabhadevi 20000 – 50000
Shivaji park 18000 – 32000
Walkeshwar 45000 – 58000
Warden Road 40000 – 62000
Worli 25000 – 62000

The rates mentioned are approximate and vary depending on the market conditions.

Property 2011 , 18th Real Estate & Housing Finance Exhibition is being held in MMRDS Grounds in Bandra –Kurla Complex,Bandra, Mumbai from 14th April and will end on 17th April 2011 between 11:00 a.m and 8.00 p.m.

The exhibition is all about MMCHI property . Property 2011 is India’s largest Real Estate and Housing Finance exhibition. Property buyers , residential and commercial property developers and home loan options are all clubbed together under one roof and it is an unique exhibition.

Those who missed out the exhibition can log on to http://onlineexpo.mchi.net
This online expo will remain open till 30th April through out day and night.

Property Developers are setting up new projects for affordable homes in suburban areas of Mumbai such as Navi Mumbai and Dombivili. Flats are being made available to the middle class people in the rage of Rs.10-25 lacs which are in demand. Soon after the Government declared the proposal of new international airpost at Navi Mumbai , the prices in Navi Mumbai , Kharghar and New Panvel has gone up by 25% and are likely to increase by 30 – 40% one the airport has come up.

Dosti Group is a famous Builders in Central, Western Suburbs and in South Mumbai. They are currently marketing three projects. Dosti Ambrosia in Wadala meant for upper class buyers priced at Rs.1 Crore plus. The other two projects are Thane based called “Dosti Vihar” and Dosti Imperia. These projects are meant for the middle income group. According to Mr. Deepak Goradia, Vice Chairman and Managing Director, Dosti Group , the real estate market is currently facing escalation in costs of construction and labour costs and delay in getting clearances for new projects. The government is in the process of streamlining the policies which are expected to benefit the developers and also the end users. The residential end-user market is very good at the moment.


Reference: http://onlineexpo.mchi.net


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